life insurance for single moms

Life Insurance for Single Moms 1


It’s probably not the most pleasant topic, but life insurance for single moms is essential.  As a single mom, you need to have life insurance.

But I get it.  Some days you are too busy to even give it a thought, with all the errands and sports practices and work and dishes and laundry and bills and grocery shopping and meal preparing and … I know.

And on the days you DO have time to think about it … well, who wants to think about your own mortality!?!?!

But facts are facts.  Your kids need to be taken care of if something were to happen to you.  I mean, that’s what you are all about RIGHT NOW, right?  Taking care of your kids.  And don’t you want them to be taken care of financially if you are not around?

Life insurance for single moms is a key aspect of your planning for the future.  Don’t take it for granted.

 

life insurance for single moms

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You are the sole breadwinner in your household.  But many single moms think they can forego the life insurance, because there are so many other more pressing payments that need to be paid.  Like the electric bill, and the rent, and the car payment, and … life insurance can get pushed down the priorities list in favor of more immediate needs.

My husband died without life insurance.  I’m not blaming him.  We had talked about getting life insurance, and had a “sit down” with an agent.  But we were always “too busy” to actually set something in place.  And then he was diagnosed with cancer, and died a year later.  And he was gone.  But the bills were not.

I have made sure that my daughters will not have to worry about funeral expenses, etc.  Right after my husband’s death, I took out a policy.  It’s not a huge one, but it will help.  And I also am covered by a life insurance policy from my work.  Please note – I am not relying on my policy from work as my sole life insurance.  It is nice to have, but I have supplemented it with my other policy.  I am not saying that you have to make two policies part of your plan, but life insurance for single moms doesn’t have to be complicated.

Here are some articles that will be helpful in figuring out where to start with life insurance:

 

Best Life Insurance Companies for 2016:

 

Here is an article with 5 Life Insurance Tips For Single Moms:

 

5 Term Life Insurance Mistakes To Avoid:

 

And remember – never buy whole life, permanent, universal …. or whatever they are calling it these days!  Always buy term life insurance.  Otherwise, you are throwing away money.  Your money.  And that’s the last think you need to do as a single mom!

Don’t wait to get life insurance.  You will pay less if you take out your policy when you are younger.  Insurance costs more when you get older.  You can get a much better rate for a policy if you are younger.  Your rates will be lower, and more manageable.

The most important reason to get life insurance for single moms?  You don’t know what tomorrow might bring.  I’m not trying to be morbid.  Anyone who has dealt with the death of a loved one will understand what I’m saying.

Here is your TO DO list:

  • Read the articles above
  • Figure out how much life insurance you will need.  There are lots of online “calculators” that will help.
  • Make the call.  Make several.  Get quotes from various companies.
  • Do it now.  Not “after the first of the year” (one of my personal favorites) or “next month,” or even “someday.”

There will never be a better day than today to help ensure your family’s security.

 

What are some of your biggest roadblocks to planning for the future, and doing things like buying life insurance?  Share them in the comments section below.  Be brave.  We are all fighting the same battle.


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